Prime Minister Antonis Samaras on Tuesday announced the speeding up of
procedures for hydrocarbon exploration in Greece and the establishment
of a Public Company for Hydrocarbons.

In a meeting he chaired at the ministry of Environment, Energy &
Climate Change attended by the ministry leadership and experts, the
prime minister underlined that the speeding up of the hydrocarbon
drilling procedures constitutes a "major comparative and geopolitical
advantage for Greece". He also referred to the commitment of the Greek
scientists involved, which he called "a prerequisitive for the successful
exploitation of the country's natural deposits that can generate wealth".

Samaras noted that the Greek programme will have to be incorporated in the
new European energy networks, underlining that it will play an important
role in buffering the Greek economy and achieving energy autonomy.

He spoke about strategic alliances with international exploration
companies, putting an emphasis on the explorations in the Ionian Sea
region and south of the island of Crete, and said that tenders are in
progress for companies wishing to undertake explorations in Ioannina
(western Greece), Katakolo (northwast Peloponnese) and Patraikos Bay
(linking the western mainland with the Peloponnese).

According to the prime minister, "The great interest shown by foreign
companies in other regions as well is proof of the confidence foreign
players have in our country."

Prime Minister Antonis Samaras spent 2.5 hours on Tuesday evening at
the Navy General Staff Operations Centre in Athens watching part of
the joint aeronautics exercise Kataigis-Iniohos (Storm-Charioteer),
conducted in the Aegean.

According to reports, the premier was briefed by the Navy Chief
Vice-Admiral Panagiotis Litsas on the exercise's technical aspects, while
he also had a communication with the commander the navy force. Samaras,
the same reports said, watched some technical subjects of the drill
conducted in the central Aegean.

Samaras had a prior communication with Defence minister Panos
Panayiotopoulos, who is attending NATO's defence ministers meeting in
Brussels and was briefed on issues discussed.

Kataigis, involving all available warships, is to conclude on June 8,
while its combined Air Force exercise Iniohos is to end one day earlier.

Luxembourg's Prime Minister and former Eurogroup president Jean-Claude
Juncker praised the efforts made by Prime Minister Antonis Samaras in
comments he made to the German stock exchange news website, noting
that Greece is on the right track and a eurozone exit is out of the
question. He predicted that Greece will achieve primary surplus and in
a few years the country will return to the markets. Referring to the
Greek people, he said that "they have a lot of courage".

Juncker made the statements ahead of his visit to Athens, noting that
he would not object to a third loan in support of the country until it
returns to the markets.

The former Eurogroup president clarified that the decisions made by the
Greek government helped the country avoid a eurozone exit. He said that
the OECD predictions on Greece are pessimistic, underlining, however,
that there is still a lot to be done to combat tax evasion. He also noted
that he would give the names of Greeks with bank deposits in Luxembourg
banks if requested by the Greek authorities, noting that all eurozone
countries should do the same.

The rise of antisemitism in Europe "is an insult to civilization", Greek
Foreign Minister Dimitris Avramopoulos underlined earlier on Tuesday
(Greek time), addressing the World Leaders Plenary of the American Jewish
Committee annual Global Forum in Washington.

Having the Greek flag as a background and being warmly applauded by
the forum participants, Avramopoulos said that "Greece will never allow
hatred to grow and spread".

He called on the members of his audience to visit and invest in Greece
outlining the country's comparative advantages. "Now is the time,"
he said, noting that "Greece was and will always be a reliable and
unwavering factor of stability in Eastern Mediterranean".

Avramopoulos also referred to the cooperation between Greece, Cyprus
and Israel, particularly in the energy sector, and to the cooperation
between their diaspora organizations.

Referring to developments in Greece, he said that "the impressive deficit
reductions and the surplus in the balance of payments are expected to
bring hope this year. We can see a ray of light at the end of the tunnel
and our country's competitiveness has improved considerably. Private and
public investors all over the world have expressed interest in investing
in strategic projects in Greece".

According to the report accompanying it, "with the settlements in the
present draft law an integrated and effective framework for the penal
handling of crimes with racist characteristics is created and, at the same
time, for protection for victims and witnesses. The aim is the explicit
defining of the punishable action and the securing of guarantees so that
the prosecution of crimes with racist characteristics will be achieved".

The draft law anticipates among other things:

-Prosecution for crimes with racist characteristics will be exercised
ex officio, while conviction will also entail the deprivation of civil
rights.

-The deprivation of civil rights is enacted as an ensuing penalty even
for misdemeanours in cases of the conviction of public functionaries
and employees.

-The responsibility is set and sanctions are anticipated against legal
entities of public law and unions of people.

Main opposition Radical Left Coalition (SYRIZA) leader Alexis Tsipras,
addressing a SYRIZA event at the historic firing range at the Athens
suburb of Kesariani on Tuesday evening, expressed his total disagreement
with the possibility of its privatisation.

He said that government policy and the prime minister's stance personally
entails the danger "of an uncontrolled social tension, it entails
the danger of the country turning back and rekindling dissensions and
divisions that we have ultimately left behind in the past".

Tsipras referred to the historic value of the premises and to the
sacrifice of 200 patriots who were executed by the Nazis, to underline the
great sentimental and political value that this location has for the left.

He added that this location belongs neither to the left nor to the right,
but belongs to the Greek people in their entirety and said that his
party will struggle so that this symbolic place will not be sold out.

Commenting on a speech by the leader of the Radical Left Coalition
(SYRIZA), Alexis Tsipras in Kesariani, Athens, government spokesman Simos
Kedikoglou called on the main opposition leader "to look in the mirror
and you will understand who nourishes and subsidises the (far-right)
Golden Dawn (Chyssi Avgi party)."

The spokesman said Tsipras' "dividing delirium" made of him "a great
political sponsor of the other extreme: the Golden Dawn".

Democratic Left (DIM.AR) leader Fotis Kouvelis, whose party is a junior
partner in the coalition government, on Tuesday ruled out the likelihood
of early elections.

Speaking in Thessaloniki after meeting with Macedonia and Thrace Minister
Theodoros Karaoglou, Kouvelis said that common ground should be found
with New Democracy (ND), the largest of the three political parties in
the coalition government, to have the anti-racism draft bill tabled in
Parliament by DIM.AR and PASOK, the other junior member of the ruling
coalition, voted in parliament.

Kouvelis said that there is no likelihood for early elections and that
the government will serve its full term according to the constitution. He
added that the country is on its way out of the crisis and efforts should
continue for success. "Elections are not necessary," he said.

In a meeting with local authorities, including Thessaloniki Mayor
Yiannis Boutaris, Kouvelis expressed opposition to the privatization
of the Thessaloniki Water and Sewerage (EYATh), stressing that water is
and should remain a public good.

The absorption of National Strategic Reference Framework (ESPA) funds
was discussed in a meeting Kouvelis had with Central Macedonia Regional
Governor Apostolos Tzitzikostas.

Kouvelis is also scheduled to address an open meeting of DIM.AR at the
Thessaloniki port in the evening.

The Democratic Left (DI.MAR) will continue following its policy in the
same responsible manner, and even if it did not entirely agree with the
government's work it will not jeopardise its stability, party president
Fotis Kouvelis said in Thessaloniki on Tuesday evening.

Addressing supporters, Kouvelis, whose party is a junior partner in the
Antonis Samaras coalition goverment, added that he participates in the
ruling coalition in an effort to achieve the best possible political
ground and the best possible infuence on policies being implemented.

The DI.MAR leader strongly criticised main opposition Radical Left
Coalition (SYRIZA) party and called on "all democrats and progressive
citizens to rally behind DI.MAR for the re-establishment of the party
of democratic socialism."

The visiting technical experts of Greece's troika of lenders (European
Commission, European Central Bank and the

International Monetary Fund) have scheduled a meeting with Finance
Minister Yannis Stournaras on Monday to review progress on the fiscal
adjustment programme, government sources said Tuesday.

According to the sources said that current negotiations are significant -
although the political approval for the release of the next tranche to
Greece of 3.3 billion euros has already been given - especially because
they are relevant to Greece's ongoing request that the VAT for the food
sector be lowered from its current 23 pct, especially during the apex
tourist season of summer.

The experts however have at least 147 pending issues on their agenda that
must be resolved by end-June, topped by the issues of privatisations, loan
repayments for indebted households, corruption, tax revenue collection,
bank recapitalisation, liberalisation of the energy market and the
fiscal deficit.

Discussion on how the fiscal gap for 2015-2016 will be covered is to go
on the agenda of the next troika review, in the fall.

Greece's political parties reacted strongly to the latest visit to Athens
by the troika of lenders' technical experts for yet another review of
the country's economy and progress in the implementation of the rescue
programme, known as memorandum.

In a statement issued on Tuesday, the main opposition Radical Left
Coalition (SYRIZA) charged that the government welcomed the troika
of lenders amidst a barrage of misleading statements by the finance
minister (Yannis Stournaras) and the governor of the Bank of Greece
(George Provopoulos), designed to prettify economic and social conditions.

The party's eurodeputy Nikos Hountis called on the government to "give
up its communication games and announce unilaterally a reduction in VAT
for tourism and restaurant business, as it has the right to do."

In a speech in Thessaloniki, Democratic Left (DIMAR) president Fotis
Kouvelis said as the issue of VAT reduction is already a subject of
negotiation with the troika, "there should be a timely agreement on the
issue so that it may benefit this year's tourism season." Kouvelis added
that "the reduction in VAT should be combined with a set of effective
measures to ensure invoicing and collection of VAT."

Notis Marias, spokesperson for Independent Greeks (ANEL) also voiced his
party's opposition to government plans to follow troika's directives and
go ahead with cuts in allowances and unemployment benefits, as well as
with public servant layoffs.

In its own reaction, the Communist Party of Greece (KKE) said in a
statement that troika's latest visit "is aimed at speeding up anti-popular
measures which have already been co-decided with the Greek government
and stipulate laying off public servants by abolishing public bodies
and organisations, as well as privatisations, cuts in allowances and
more taxes."

Patriarch Kirill of Moscow and All Russia, currently on a visit to Greece,
arrived on Mount Athos in Halkidiki Peninsula earlier on Tuesday launching
a formal three-day visit to the monastic community.

Patriarch Kirill was formally welcomed in the administrative center
of Karyes by the Hiera Epistassia (Athos' executive committee) and
representatives of the 20 monasteries comprising the monastic community. A
mass was later celebrated at the Protaton Church.

Patriarch Kirill will depart for the Russian Monastery of Saint
Panteleimon later in the day after meeting with the Mount Athos holy
fathers.

On Wednesday, he will lead a mass at the Saint Panteleimon Monastery and
afterward he will visit the monasteries of Megisti Lavra and Iviron. On
Thursday, he will visit the monasteries of Vatopedion, Hilandarion
and Pantokrator.

Opposition extreme-right Golden Dawn (Chryssi Avghi) party on Tuesday
tabled a draft bill to "fight racism targeting Greeks" also suggesting
that crimes committed by illegal migrants be treated as special offenses.

Golden Dawn lashed out at the "systemic political parties", as it
called the established parties, and claimed that "for days, they have
been competing with each other for the toughest anti-racism draft bill
that will perpetuate illegal behaviour and make the Greeks a minority
in their own country."

The party's MPs also condemned the anti-racism draft bills tabled
separately by other political parties, calling the bills a "disgrace".

The extreme right Golden Dawn (Chryssi Avghi) bill tabled to "fight racism
against Greeks" is an "insolent act" and "shows the great responsibility
shouldered by the forces of non-extreme parties in Parliament, especially
New Democracy and the Radical Left Coalition (SYRIZA)," the PASOK press
office said Monday, referring to the main party of the ruling coalition
and the main opposition party.

In an announcement, PASOK, a junior member of the coalition along with
Democratic Left (DIM.AR), said that "It is obvious that the concerted
deflection of the Nazi-like creation's acts is not enough. It is
imperative that a new law of wide acceptance be voted immediately,
based on the joint PASOK-DIM.AR proposal, which was first to be tabled."

The party also said that the national plan to manage illegal immigration
flows must be applied in order to strengthen the sense of security
citizens have while respecting the Constitution and the European legal
order.

International Monetary Fund (IMF) Managing Director Christine Lagarde
on Tuesday underlined that the programme for the Greek economy is more
or less on the right track despite the difficult fiscal adjustment.

Lagarde told public-run NET television that efforts should not relax,
referring to tax collection and the reforms in the products and services
markets, because this is the only way to restart the Greek economy and
attract investments.

The sacrifices made and the wage cuts should not go to waste, she
stressed, adding that "more energy" is necessary in the implementation
and adoption of reforms that will greatly benefit the Greek economy. She
said that the VAT rate reduction on food catering services is not an
insignificant issue, stressing, however, that such a move should not
send the wrong message namely, that revenue collection and the revenue
collection mechanism reorganization efforts have relaxed.

As regards the debt reduction, she repeated that the European pledges
for assistance will be met - even though the way has not been clarified -
if the country meets its commitments, which is now the case, and achieves
primary surplus.

International Monetary Fund (IMF) general director Christine Lagarde
said on Tuesday that Greece is on a "good path" but must do more for the
implementation of the Greek programme, underlining the efforts being made
by Prime Minister Antonis Samaras and the Greek authorities. She also
emphasised the need for the improvement of the tax-collecting apparatus.

Lagarde, in an address at the Brookings Institution in Washington and
replying to questions, said that the Eurozone is continuing to be the
"important sector of concern" for the global economy and that the world
is continuing to be inconvenienced by "unequal recovery" and be divided
into a three-speed economy: to those doing well, to others being corrected
and those that still have a long way to go.

[17] Commissioner Semeta optimistic that Greece will return to economic
growth in 2014

European Commissioner for Taxation, Customs, Statistics, Audit and
Anti-Fraud Algirdas Semeta, in Athens on Tuesday, expressed optimism
that Greece will return to economic growth in 2014, noting that there are
clear indications showing that confidence in the country has increased.

Addressing a joint session of the Greek Parliament's committees on
European affairs, economic affairs and institutions & transparency,
he acknowledged that a difficult task has been performed both by the
Greek authorities and the Greek people, allowing for optimistic forecasts.

Semeta underlined the need to reform the taxation system, noting
that it is the most important measure for economic growth and social
cohesion. "It should be simple, fair, with a mechanism that can trace
and punish those who break the law," he said, expressing the view that
the VAT rate reduction on food sector requested by Greece is not the
best choice in solving its problems.

He said that cooperation between the EU's Eurostat and the Hellenic
Statistical Authority (ELSTAT) has been fruitful, producing reliable
statistics that have been published six times without reservations. He
described as "a positive first step" the establishment of the office of
a general secretary for public revenues, noting that progress has been
made but strong political will is also necessary.

"The issue is to have fair taxation system with zero tolerance for fraud,"
he said, adding that the EU Task Force for Greece prepares new taxation
codes to be incorporated in the Greek legislation.

Responding to questions by MPs, the European Commissioner said that the
European Commission puts pressure on all member-states to tackle the
problem of tax havens and underlined that tax evasion should be combated
on European and national levels.

Development Minister Costis Hatzidakis, addressing an event held by the
Greek-German Chamber of Commerce and Industry on Tuesday on the theme
"The example of Ireland in the exit from the crisis", said that the
trust of markets and investors cannot be built with communication moves
but is gained with actions of substance.

"We are aware that the positive climate that we are building can be
easily overturned if we leave the path of seriousness, of hard work and
of strict programming. And we shall not leave it," he said.

Wolfgang Dold, the ambassador of the Federal Republic of Germany in
Greece, said that "most approaches to the crisis focus on whether the
bailout package of 240 billion euros is adequate and whether the partners
in Europe could do something better. The common view focuses on how the
others can help us and distances all the more from what we ourselves
could do to rid ourselves from misery, to develop our competitiveness".

Tourism Minister Olga Kefaloyianni held contacts with representatives
of US tourist industry here on Monday and was to continue her contacts
in New York on Tuesday.

Apart from officials of big travel organisations, she is scheduled to
meet with airline company representatives to discuss the possibility of
direct flights between Athens and New York.

Kefaloyianni would be addressing a gathering at Greece's General Consulate
on Tuesday evening and would brief presidents and representatives of
expatriate agencies, Greek American teachers and people of literature
and art on a series of issues concerning the tourist infrastructure and
the effort to boost Greek tourism.

"The contribution of the expatriates is important for our country,
since they constitute the bridge with the US", Kefaloyianni said on
Monday, following her meeting with Archbishop of America Demetrius,
also stressing that "Greece went through a difficult period, but today
we are on a course of economic recovery. The effort is continuing and
we need the help of our expatriate brothers in this struggle as well".

The social tourism programmes - which had been severely cut last year -
are to be reintroduced, according to a decision taken during a meeting
of the board of the Manpower Employment Organisation (OAED) on Tuesday.

The meeting, the first to be chaired by OAED's new chief Theodoros
Ambatzoglou, was also attended by Labour minister Yiannis Vroutsis who
was briefed on new OAED actions to enhance employment and support the
unemployed.

Vroutsis after the end of the meeting referred to the need to improve OAED
work in the labour market. He stressed that "the social state is being
restarted and reinforced by the reintroduction of the social tourism
programmes and other recent schemes, such as the family allowance by
the Welfare services and the farmer insurance fund?OGA."

Social tourism programmes were cut in February 2012 as a result of the
abolition of the Worker Welfare Organisation (OEE).

National Bank on Tuesday urged its shareholders to massively participate
in a share capital increase plan which began on May 30 and will be
completed in June 13.

"The present share capital increase plan by National Bank, as with all
other systemic banks, is different compared with similar moves in the
past. Banks are required to ensure that private investors would cover at
least 10 pct of recapitalization needs for each bank. And that is what we
all look forward: workers in the group and shareholders with the society
actively supporting," Alexandros Tourkolias, the bank's chief executive
said in a letter to shareholders.

"This goal seeks to safeguard National Bank's decisive role in the
economic development of the country and the progress and prosperity
of Greeks in and outside the country. With a successful completion of
its capital boost scheme, National Bank will expand its abilities to
contributing in the development of the national economy, both in our
country and in the wider regional market," Tourkolias said.

[22] Piraeus Bank says its share price will be trading at 1.17 euros
from Monday 10 June

Piraeus Bank on Tuesday said that trading in its shares will be temporary
suspended from Wednesday, 5 June until next Monday June 10, as the bank
is implementing a reverse split programe.

The bank said that from Monday, June 10, trading will resume for its
114,332,657 new shares at a final nominal price of 0.30 euros per share
and with an adjusted starting price of 1.71 euros per share.

The first waterway in the Ionian islands will be created in Corfu island
port following the activation of the legislation regarding the licence
and operation prerequisites of waterways.

Greek Waterways company has submitted all the necessary documents for
flight operation over the Ionian islands.

According to sources from Corfu, the company will initially use the
island as a hub to provide charter flights to the small islands of Othoni,
Erikoussa and Paxi and aerial tours for cruiseship passengers that will
want to see Corfu from above.

Greek stocks came under strong selling pressure pushing the composite
index of the market below the psychologically-critical 1,000 level. The
index fell 2.78 pct to end at 981.50 points, its lowest since April,
off the day's lows of 976.38 points. Turnover remained a moderate 72.05
million euros.

The yield spread between the 10-year Greek and German benchmark bonds
shrank further to 7.56 pct in the domestic electronic secondary bond
market on Tuesday, from 7.74 pct on Monday, with the Greek bond yielding
9.11 pct and the German Bund yielding 1.55 pct. Turnover rose to 23
million euros, all buy orders. Market sentiment was encouraged by the
news that Japonica Partners, a US-based investment company, plans to buy
Greek state bonds worth 2.9 billion euros, an unprecedented move in the
Eurozone state bond market.

In interbank markets, interest rates were largely unchanged. The 12-month
rate was 0.48 pct, the nine-month rate was 0.39 pct, the six-month rate
was 0.30 pct, the three-month rate was 0.20 pct and the one-month rate
was 0.11 pct.

The June contract on the FTSE Large Cap index was trading at a discount of
1.31 pct in the Athens Derivatives Exchange on Tuesday, with turnover at
19.361 million euros. Volume on the Big Cap index totaled 8,777 contracts
worth 14.683 million euros, with 40,619 open positions in the market.

The importance of effective environmental management was underlined by
Environment, Energy & Climate Change Minister Evangelos Livieratos in
his message marking the UN World Environment Day celebrated on June 5.

He underlined that effective environmental management can be achieved
through sustainable development which can be possible only with the
participation of citizens.

Special events are planned for Sunday, June 9 and Monday, June 10 in
downtown Athens focusing on the environmental education of children.

[29] Authorities at the seaport of Igoumenitsa seize 15.9 kilos of heroin
hidden in camper van

Police and Coastguard officers at the seaport of Igoumenitsa, northwest
Greece, found and seized 15.9 kilos of heroin hidden in a camper van
headed to Ancona, Italy, it was announced on Tuesday.

The vehicle's 66-year-old Turkish driver and a 20-year-old Bosnian woman
were arrested.

A heroin package was discovered in the vehicle during a routine check
in the early morning hours on Tuesday and other 6 packages of the drug
were found under a refrigerator with the help of a sniffer dog.

A light earthquake measuring 4.4 on the Richter scale woke up the
Athenians at 4.56 a.m on Tuesday. The quake's epicentre was located 24
km east of Athens at the suburb of Pikermi .The quake's epicentral depth
was estimated at 10 km.

Rainy weather and westerly winds are forecast in most parts of the
country on Wednesday. Winds 2-6 beaufort. Temperatures between 10C and
30C. Cloudy with possible local showers in Athens with westerly 3-5
beaufort winds and temperatures between 15C and 27C. Local showers in
Thessaloniki with temperatures between 15C and 26C.